Urban Real Estate's managing broker and Chicago Association of REALTORS® president, Matt Farrell, recently spoke with Crain's Chicago Business regarding Chicago-area home sales decline through the month of July.
Although home sales appear to be down, average days on the market have decreased 16% in comparison to the same time table in 2013. The market has also seen a steady increase in price throughout Chicagoland.
According to Matt, "Inventory remains low even when the summer season is popular with sellers looking to move."
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